Finance convention to propose toll road tax

Mexico's national finance convention (CNH) will propose a new tax on toll roads, gasoline and auto parts next week to the country's congress to help finance repairs to non-toll roads, local newspapers reported. While Mexico needs 22bn pesos (US$1.9bn) annually to repair toll-free roads and highways, the federal government's transport ministry (SCT) is allocated only some 4.5bn pesos/y to do the job, the papers said. The CNH will propose adding 0.4-0.5 pesos (US$0.02-0.03) to a liter of gas and 10 pesos to toll charges of roughly 700 pesos to raise between 16bn-17bn pesos per year for repairs. In addition, there is a proposed tax on autoparts, which would largely hit cargo vehicles, although the CNH has not specified an amount. The CNH's directive council is made up of officials from Mexico's executive branch, local legislators, state officials and city mayors.